Super Micro Computer (NASDAQ:SMCI) Downgraded by JPMorgan Chase & Co.

Super Micro Computer (NASDAQ:SMCI) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday, Briefing.com reports. They currently have a $500.00 price objective on the stock, down from their previous price objective of $950.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 20.60% from the stock’s current price.

Other research analysts have also issued reports about the stock. Bank of America lowered shares of Super Micro Computer from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $1,090.00 to $700.00 in a research report on Wednesday, August 7th. Nomura Securities lowered shares of Super Micro Computer from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Susquehanna upped their target price on shares of Super Micro Computer from $285.00 to $325.00 and gave the stock a “negative” rating in a research report on Monday, July 15th. Wedbush restated a “neutral” rating and set a $800.00 target price on shares of Super Micro Computer in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Super Micro Computer from $650.00 to $375.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $790.00.

Super Micro Computer Trading Down 2.1 %

Shares of Super Micro Computer stock opened at $414.60 on Friday. Super Micro Computer has a 52-week low of $226.59 and a 52-week high of $1,229.00. The company has a quick ratio of 1.93, a current ratio of 3.77 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $673.13 and its 200-day simple moving average is $819.80. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 23.24 and a beta of 1.24.

Super Micro Computer shares are scheduled to split on the morning of Tuesday, October 1st. The 10-1 split was announced on Tuesday, August 6th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Super Micro Computer (NASDAQ:SMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $6.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.63 by ($1.38). Super Micro Computer had a return on equity of 30.57% and a net margin of 8.09%. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter last year, the firm earned $3.43 earnings per share. The company’s revenue was up 142.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Super Micro Computer will post 28.5 earnings per share for the current year.

Institutional Trading of Super Micro Computer

Several large investors have recently modified their holdings of the business. Farmers & Merchants Investments Inc. lifted its stake in shares of Super Micro Computer by 400.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 30 shares of the company’s stock valued at $25,000 after buying an additional 24 shares during the period. Moser Wealth Advisors LLC purchased a new position in shares of Super Micro Computer during the second quarter valued at approximately $25,000. FinTrust Capital Advisors LLC purchased a new position in shares of Super Micro Computer during the fourth quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. lifted its stake in shares of Super Micro Computer by 141.2% during the second quarter. Hazlett Burt & Watson Inc. now owns 41 shares of the company’s stock valued at $34,000 after buying an additional 24 shares during the period. Finally, Bank of New Hampshire purchased a new position in shares of Super Micro Computer during the first quarter valued at approximately $35,000. 84.06% of the stock is currently owned by institutional investors and hedge funds.

About Super Micro Computer

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.